ISLAMABAD, Sept 11: Foreign Direct Investment (FDI) was $42.4 million in July 2002 compared to $24.4 million of the corresponding of last year.

According to details released by the Board of Investment (BoI) on Wednesday, the FDI registered 74 per cent increase with the US as top investing country which brought in $23.7 million of investment in Pakistan.

Other top investing countries include Saudi Arabia ($3.5 million) United Kingdom ($2.8 million), United Arab Emirates ($2.7 million), France ($1.7 million) and Japan ($0.7 million).

The leading sectors in which FDI has come include: oil and gas, transport, financial business, personal services, trade and communication.

It has been projected that with the sale proceeds from the privatization of United Bank Limited (UBL) and other pipeline transactions, the FDI during the current financial year will cross $1 billion mark.